Pashu Kisan Credit Card – Eligibility, Benefits & How to Apply
The animal husbandry business is growing rapidly. Keeping this in mind, the Central and State Governments have come up with the Pashu Kisan Credit Card scheme to provide loans to animal farmers at low-interest rates.
Primarily, this card was distributed among 101 cattle owners in Bhiwani in Haryana. Now, animal farmers all around the country can hold this credit card to avail of a loan for animal husbandry and related purposes.
Read on to know the benefits, eligibility criteria, features and objectives of this government-backed scheme.
What is Pashu Kisan Credit Card?
The Government of India introduced the Pashu Kisan Credit Card for farmers involved in animal farming. It helps farmers to secure loans for animal husbandry at a low-interest rate. This card not only helps the farmers earn more money, but also helps to boost the animal husbandry business. The RBI has extended the Pashu Kisan Credit Card services for working capital requirements for activities related to animal husbandry and fisheries.
What is the Pashu Kisan Credit Card Scheme?
Haryana was the first state to implement the Pashu Kisan Credit Card Scheme. Under this scheme, loans are provided to farmers involved in breeding cows, buffaloes rearing, goat rearing, sheep rearing, poultry rearing and fish farming. In order to apply for a loan, you need to get a Pashu Kisan Credit Card.
If a farmer avails a loan of up to Rs.1.6 lakh, they do not need to pledge anything to the bank. However, collateral security is a must if the amount is more than Rs.1.6 lakh. In order to get the loan, one needs to insure their cattle beforehand, and Rs.100 has to be paid for the same.
Other than this, if a farmer wishes to take a loan of up to Rs.1.60 lakh under the Pashu Kisan Credit Card Scheme, they need to submit an affidavit to the Deputy Director of Animal Husbandry and Dairy Department.
The interest rate is applicable at 7%, of which the Central Government offers the State Government provides a 3% subsidy and the remaining 4% rebate. It is applicable for a loan of up to Rs.1.60 lakh. However, if the loan amount is more than Rs.1.60 lakh, then 7% interest will be applicable. Further, a rebate will be given if the farmer repays this loan within one year of availing.
What are the Objectives of the Pashu Kisan Credit Card Scheme?
Under this scheme, the Government aims to provide financial help to cattle farmers:
- Farmers who breed cows will be provided Rs.40,783
- Buffalo breeders can avail of Rs.60,249
- The credit amount for sheep and goats is Rs.4063
- Farmers who rear pigs will be given Rs.16337
- Poultry farmers who have hens that lay eggs will get Rs.720
What are the Features and Benefits of Pashu Kisan Credit Card?
The features of the Pashu Kisan Credit Card are as below:
- Loan Amount: The maximum loan amount for livestock owners is up to Rs.3 lakh
- Repayment Period: This loan has a repayment tenure of 5 years. The farmer needs to pay back the loan within this stipulated time with the applicable interest rate
- Instalment Pattern: The loan amount will be provided to the livestock owner in 6 equal instalments
Here are some of the benefits of this scheme:
- Under this scheme, cattle farmers get a loan in times of urgency
- This scheme is applicable across the country
- The farmers will get credit cards under this scheme which they can use as a debit cards in a bank
- If the farmers are able to pay back the loan within the stipulated time, they will get a subsidy and rebate
- Farmers involved with agricultural activities can get assistance with post-harvest expenses with this scheme
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Who Can Apply for a Pashu Kisan Credit Card?
Farmers who either do not own or have less land and are involved in livestock rearing, such as cow, buffalo, goat, etc., can apply for the scheme and avail of the benefits. In addition, this scheme applies to cattle farmers who belong to the weaker section and sell their animals due to financial weakness or because of the incapacity to pay for the treatment cost when the animal gets ill.
Under such circumstances, you can apply for a Pashu Kisan Credit Card to get financial help from the Government.
What are the Eligibility Criteria for a Pashu Kisan Credit Card?
Eligibility criteria vary according to the type of cattle farming. They are:
1. Dairy
- Farmer
- Self-help groups that consist of tenant farmers who own or rent, or lease sheds
- Dairy farmers who are individual or joint borrowers
- Joint liability groups
2. Poultry and Small Ruminant
- Farmers
- Poultry farmers who are individual or joint borrowers
- Joint liability groups
- Self-help group that includes tenant farmers of poultry/pig/birds/sheep/goat/rabbit and either own, rent or lease sheds
3. Fishery
- Individual, group, sharecroppers, partners and tenant fish farmers
- Fishers
- Women groups
- Self-help groups
- Joint liability groups
The beneficiaries mentioned above must own or lease any fishery-related activities such as open water bodies, ponds, raceways, rearing units, tanks and hatcheries. They also need to possess a licence for fish-related activities and fish farming along with any State-specific fisheries and allied activities.
4. Marine Fisheries
- Fish farmers (individuals, groups, partners, sharecroppers and tenant farmers)
- Women groups
- Joint liability groups
- Self-help groups
To become eligible for the Kisan Pashu Credit Card under this category, the beneficiaries should own or lease a registered finishing vessel or a registered boat. In addition, they must also possess the necessary fishing licence and permission for fishing in sea and estuary, fish mariculture or farming in open sea and estuaries, and any other allied activities or state-specific fisheries.
What are the Documents Required for Pashu Kisan Credit Card?
The farmer needs to submit the following documents for the Pashu Kisan Credit Card application along with the duly filled application form:
- Aadhaar card
- Passport size photo
- PAN card
- Voter card
- Land documents
- Animal health certificate
- Mobile number
- Bank account details
How to Apply for the Pashu Kisan Credit Card Online?
Following are the steps using which you can apply for Pashu Kisan Credit Card online:
- Visit the website of any nationalised bank
- Choose the Kisan Credit Card option on this page and click on ‘Apply’
- A new page will open, fill up the Pashu Kisan Credit Card application form and click on ‘Submit’
- After this, you will receive an application reference
The bank will contact you upon successful verification of your application in 3 to 4 business days.
How to Apply for the Pashu Kisan Credit Card Offline?
You can follow the steps given below to apply for Pashu Kisan Credit Card offline:
- Visit the nearest bank to get the Pashu Kisan Credit Card
- Collect the application form and fill in all the details asked for
- Submit all the necessary documents along with your filled-up application form and complete the KYC verification
- After one month of applying, you will receive the Pashu Kisan Credit Card
Final Word
Pashu Kisan Credit Card Scheme is one of the most promising and innovative schemes that work towards meeting cattle farmers’ credit requirements. The scheme focuses on livestock development. Popularisation of this scheme is necessary so that farmers can benefit from this scheme and improve their business and quality of life.
In case you are not eligible for Pashu Kisan Credit Card but need to meet an urgent financial need, download the Navi App for an instant personal loan in a 100% paperless manner.
FAQs on Pashu Kisan Credit Card
Ans: You will find that there are many banks that offer this scheme facility. However, HDFC Bank, Axis bank, ICICI bank, State Bank of India, and Punjab National Bank are some of the leading banks that offer Pashu Kisan Credit Card.
Ans: The Pashu Kisan Credit Card Scheme will allot credit according to the animal that you own as well as your financial standing. For more details, you can contact your nearest bank providing this facility.
Ans: The Pashu Kisan Credit Card Scheme will allot credit according to the animal that you own as well as your financial standing. For more details, you can contact your nearest bank providing this facility.
Ans: Animal husbandry is a branch of agriculture in which people rear, raise and breed animals so as to obtain meat, eggs, milk, fibre and other products. A large number of farmers’ livelihoods depend on animal husbandry.
